Unipetrol - vice-chairman of NPF warns on possible lower privatization revenue

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Investiční bankovnictví KB

      Vice-chairman of the NPF Pavel Kuta said in interview with Bloomberg that the privatization revenue from sale of Unipetrol could lag behind his previous expectations of about CZK 11bn. The main reason is reduced competition between the bidders after the government excluded cash-rich Russian companies from the sale. Another reason is option contracts between shareholders of Ceska Rafinerska. IOC could buy Unipetrol’s stake in Ceska Rafinerska in case of changes in shareholder structure of Unipetrol. Deadline to submit final bids was set on 23 April. MOL, PKN Orlen and Royal Dutch/Shell proceeded to the final phase of privatization of Unipetrol.

       The interview undoubtedly sends negative signal to Unipetrol’s shares, which purely driven by privatization expectations and speculations on subsequent buyout after the privatization is completed.

      Tyto zprávy pro vás vytváří Investiční bankovnictví KB.